Gokaldas Exports IPO
Gokaldas Exports IPO — date, price band, lot size & details 2005
Gokaldas Exports listed on 27 Apr 2005 at ₹500, 17.6% above the ₹425 issue price.
Gokaldas Exports is a Bangalore based apparel maker and exporter that supplies global brands such as GAP, Nike and Abercrombie and Fitch. Its total income was Rs 465.73 crore in FY2004.
Stock price
Gokaldas Exports is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 30 Mar 2005
- Close 06 Apr 2005
- Allotment 19 Apr 2005
- Refund/credit TBA
- Listing 27 Apr 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 30 Mar to 6 Apr, 2005 |
|---|---|
| Price Band | ₹375 – ₹425 |
| Face Value | ₹10 |
| Lot Size | 15 Shares |
| Issue Size | ₹132.81 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,375 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 15 shares at the ₹425 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 15 | ₹6,375 |
| Retail (max) | 31 | 465 | ₹1,97,625 |
| S-HNI (min) | 32 | 480 | ₹2,04,000 |
| S-HNI (max) | 156 | 2,340 | ₹9,94,500 |
| B-HNI (min) | 157 | 2,355 | ₹10,00,875 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Its workforce doubled from 15,766 in 2000 to over 31,500 in December 2004.
- 02Total income rose from Rs 370.12 crore in FY2002 to Rs 465.73 crore in FY2004.
- 03Profit after tax was Rs 24.70 crore in six months to September 2004.
- 04Its buyers included global brands such as GAP and Nike among its 10 largest.
Risks · 5
- 01Its largest buyer made up 55.58% of revenue in FY2004, and its five largest made up 80.38%.
- 02Its ten largest buyers made up 87.26% of revenue in six months to September 2004.
- 03Total borrowing rose from Rs 29.15 crore in FY2003 to Rs 129.44 crore in September 2004.
- 04Garment exports face currency moves and price pressure from large buyers; profit was only Rs 2.94 crore in FY2004.
- 05Promoter group holding fell from 93.99% before the issue to 76.9% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Gokaldas Exports offer document.
| Metric | 30 Sep 2004 | 31 Mar 2004 | 31 Mar 2003 | 31 Mar 2002 |
|---|---|---|---|---|
| Total Income | 382.84 | 465.73 | 375.17 | 370.12 |
| Profit After Tax | 24.70 | 2.94 | ||
| NET Worth | 139.14 | 10.63 | 57.42 | 53.14 |
| Reserves and Surplus | 126.13 | 2.94 | 0.00 | 1.31 |
| Total Borrowing | 129.44 | 124.07 | 29.15 | 5.34 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Gokaldas Exports RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Gokaldas Exports IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.09 | ₹28.74 |
| P/E Ratio (x) | 203.48 | 14.79 |
| Market Cap at Offer Price (₹ Cr) | ₹5,022.73 | ₹365.26 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹425 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹132.81 Cr of the issue is earmarked to named objects.
About the company
It designs, makes and exports a wide range of garments.
Its ten largest buyers in six months to September 2004 included Abercrombie and Fitch, GAP, Nike, Mexx Canada and Sears Canada, and its workforce grew from 15,766 in March 2000 to over 31,500 in December 2004.
The IPO was Rs 132.81 crore and was entirely a fresh issue at Rs 425, the top of the Rs 375 to Rs 425 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Gokaldas Exports IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
HSBC InvestDirect Securities (India) Ltd
24 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Gokaldas Exports?
The current Grey Market Premium is ₹0.
What is the Gokaldas Exports IPO price band?
₹375 to ₹425, on a face value of ₹10.
When is the allotment?
The basis of allotment is 19 April 2005, with listing on 27 April 2005.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
